Business Ethics as a Strategy for Long-Term Sustainability

The boundaries of the organization have become increasingly vague and have moved to the global dimension, even for the companies operating locally. This has exposed serious challenges to the companies. The globalization has changed the structure of the competition in the market. Competing companies are now constantly compared by the powerful consumers. What makes the consumers so strong are the opportunity to exchange information thanks to the internet and Web 2.0 technologies. In such a competitive environment, companies must consider and attach importance to the strengths of consumers to survive and compete in the market. The organizations of today's world should be aware of the fact that they are social entities, and they should be open to and become more integrated with the society. Because meeting the increasing demands of the strengthening consumer by the organization could be possible in this way. The transparency of the organization towards the society and sharing of all the processes openly with the society will increase the competitive power of the organization. In this context, it is important for the organization to adopt ethical values as a part of the society.